Air Products to invest $500 million to build a green hydrogen facility in New York

Air Products & Chemicals Inc.
APD,
-2.87%
said Thursday it plans to invest about $500 million to build and operate a green hydrogen production facility in Massena, New York, as well as liquid hydrogen distribution operations. The industrial gases company expects the investment to create 90 jobs. The company expects commercial operation of the facility to begin in 2026 to 2027. Air Products said it is also looking into establishing a hydrogen fueling station network in the northeastern region of the U.S. to help serve its truck fleet. The stock, which slumped 1.1% in morning trading, has gained 1.2% over the past three months while the S&P 500
SPX,
-2.80%
has declined 2.0%.